BYND Trade on Jan 24, 2020 09:46 from satrader: Tradervue User Stock Trades.

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satrader

 

Sarah thought BYND was weak today and got some PUTS (big position expiring today, but ITM).

Ended up being a little early in entry, but we patiently watched and waited.
Anthony thought (and we decided) 120 - 120.50 was a good price target range. Because 120 was yesterday's resistance and there was an unfilled gap above $120 today.

So Anthony estimated the options would be worth about $5.50 and placed that as a sell order.

I overestimated as the contracts were worth only about how far under the $125 strike they were (had very little extrinsic value).

However luckily BYND dipped under 120 and was able to hit the sell order. Good target overall.

There was more downside later in day, but still had good timing as a short term day trade.

UPDATE: I remember Sarah thanked me for being patient (I think on this trade), and we noticed how $124 was proving to be good resistance right before the trade started working out.


Execution detail:

Date/time Symbol Side Price Position
2020-01-24 09:46:00 JAN24 20 125 PUT buy $3.900 long
2020-01-24 10:30:00 JAN24 20 125 PUT sell $5.500 0


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